Friday, June 24, 2011

Clearstone Tops CalPERS IRR List

CalPERS (the California Public Employees' Retirement System), one of the biggest limited partners in venture capital funds, has released its best and worst performing venture capital and private equity funds as of December 31st, showing that two Southern California venture funds were tops in terms of internal rates of return (IRR). Topping the list of IRR investments was Clearstone Venture Partners I-B, L.P., a 1999-vintage fund from Santa Monica-based Clearstone, which had an IRR of 154.7 percent. Second on the returns list was Avalon Ventures VIII, L.P., with 109.7 percent IRR for the La Jolla fund, vintage year 2007. CalPERS has been required to release its IRR and performance data since 2002. An easily parsable version of the CalPERS data was provided by Fortune earlier this week.

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